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Are CMO's feeling the current economic climate? Are budgets dropping and why? Do CMO's feel that their companies' marketing strategy is focused on brand building at the expense of other initiatives with more demonstrable ROI (ROMI)? Do marketing executives experience a need for increased focus on furthering the education of their marketing teams?
Citation preview
CMO Trends 2009
A survey about Chief Marketing Officer’s
Trends
1
About the survey
The survey was conducted by Michael Leander Nielsen from Q4-2008 to January 2009
More than 432 CMO’s completed the survey
Please note that this survey provides indications and is not necessarily representative for your region
2
Survey objectives
Identify key marketing instrumentationtrends as Chief Marketing Officer’s (CMO) see them
Uncover how the economic situation affects marketing budgets
Identify the preferred marketing metrics of C-level marketing executives
Identify the need for continued education in marketing departments
(c) Michael Leander Nielsen, 2009 3
Survey sponsor
(c) Michael Leander Nielsen, 2009 4
MARKEDU- Marketing education & inspiration
www.markedu.com
Official blog
(c) Michael Leander Nielsen, 2009 5
Meemoo2 Marketer
-
http://meemoo2.com
Part 1 About the survey respondents
(c) Michael Leander Nielsen, 2009 6
More than half reside in Europe, 16% in North America and 8% in Asia-Pacific
(c) Michael Leander Nielsen, 2009
7
96% are directly involved in strategical marketing decisions
(c) Michael Leander Nielsen, 2009 8
Nearly 50% are CMO’s
(c) Michael Leander Nielsen, 2009 9
Title %
CMO’s 46,45%
CEO 12,80%
Business development
9,48%
Brand manager
6,16%
CSO 5,21%
In which of the following areas are you involved with the decision making about strategic direction, investments and/or results? (3 answers max)
(c) Michael Leander Nielsen, 2009 10
# Area Percentage
1 Marketing strategy 87,20%
2 Branding 72,51%
3 Email marketing 71,56%
4 Website/webproperties 67,77%
5 Internet media 65,40%
6 Direct marketing 61,61%
7 CRM/database 52,61%
8 Customer experience 47,39%
9 Outdoor 37,44%
10 TV/Radio adverts 31,28%
CHALLENGEManaging a highlydiversified set of instruments
What is your company's global annual marketing/advertising budget in Euro?
(c) Michael Leander Nielsen, 2009 11
Part 2 Is the current economic climate affecting marketing budgets?
(c) Michael Leander Nielsen, 2009 12
I expect my company’s marketing budget in 2009 to be...
(c) Michael Leander Nielsen, 2009 13
Which of the following describe the reasons for impending or past cuts in your company’s marketing budget?
(c) Michael Leander Nielsen, 2009 14
Companywide expense cuts have been allocated in roughly equal proportion across all departments/functions, including marketing
35.08%
Lack of appreciation of marketing effectiveness by CEO or other top management
26.70%
Marketing programs are not given sufficient time to demonstrate ROI 17.80%
Funds for brand-building and other marketing programs with less demonstrable ROI are being reallocated to sales promotions and other programs with more direct bottom-line impact
16.23%
Specific marketing programs have not met objectives and are being eliminated, though successful programs remain fully funded
15.18%
General inability of marketing to demonstrate ROI 14.66%
Overall marketing effectiveness has not met objectives 7,85%
Take away – ROMI (Return on Marketing Investment)
• Have you ensured that your marketing programs are measurable?
• Have you defined your critical few marketing objectives?
• Have you discussed your marketing objectives with top management?
• Have you discussed your marketing objectives with sales management?
• Are marketing activities closely tied to sales activities?
(c) Michael Leander Nielsen, 2009 15
Part 3 Question 1: Which media are most important to your company’s marketing objectives today? Select up to three.
Question 2: In 12 months’ time, which mediums do you think will be most important to your company’s marketing objectives? Select up to three.
(c) Michael Leander Nielsen, 2009 16
Summary of part 3
Email marketing and conferences/events are by far the most important instruments to meet CMO objectives for 2009 with conferences/events seeing the highest growth from 2008 to 2009Use of direct mail and advertising in print magazines are seeing the largest decline from 2008 to 2009Use of online portals/content sites will enjoy the highest growth rates from 2008 to 2009Use of search engine marketing and video sites only growing modestly
(c) Michael Leander Nielsen, 2009 17
CMO Trends 2009 - results
18
Which media are most important to your company’s marketing objectives today and in 12 months time? Select up to three
(c) Michael Leander Nielsen, 2009
19
Medium 2008 2009 DifferenceEmail newsletters 42,86% 43,45% 0,59%
Conferences/events 38,92% 40,39% 1,47%Direct mail 28,57% 19,21% -9,36%
Social networks 27,09% 28,57% 1,48%Consumer/business
magazines 23,15% 15,76% -7,39%Search engines 23,15% 25,12% 1,97%Online content
sites/portals 21,29% 32,51% 11,22%Trade magazines 16,26% 12,32% -3,94%
Television 15,27% 14,29% -0,98%Online portals 13,79% 11,82% -1,97%
Outdoor advertising 8,37% 6,40% -1,97%Newspapers 7,39% 6,90% -0,49%
Webinars 6,90% 7,88% 0,98%Mobile marketing 4,43% 6,40% 1,97%
Radio 3,95% 3,45% -0,50%Online video sites 2,96% 4,43% 1,47%
Telemarketing 1,48% 1,48% 0,00%
Which media are most important to your company’s marketing objectives today and in 12 months time? Select up to three
Part 4 Which objectives are important to CMO’s?.
(c) Michael Leander Nielsen, 2009 20
How important are the following objectives of your company’s marketing campaigns?
(c) Michael Leander Nielsen, 2009 21
Veryimportant
Important Neutral Not important
Un-important
Brand-building/ brand-awareness 51.0% 34.5% 7.5% 5.0% 1.5%
Customer acquisition 67.0% 23.0% 7.0% 1.5% 0.5%
Lead generation 44.5% 34.5% 13.5% 3.5% 1.5%
Cross-selling/up-selling
23.0%38.5% 23.0% 7.0% 5.0%
Customer retention 50.0% 29.5% 16.0% 3.5% 1.0%
Let’s talk about that for a moment
22
How important are the following objectives of your company’s marketing campaigns?
(c) Michael Leander Nielsen, 2009 23
Veryimportant
Important Neutral Not important
Un-important
Brand-building/ brand-awareness 51.0% 34.5% 7.5% 5.0% 1.5%
Customer acquisition 67.0% 23.0% 7.0% 1.5% 0.5%
Lead generation 44.5% 34.5% 13.5% 3.5% 1.5%
Cross-selling/up-selling
23.0%38.5% 23.0% 7.0% 5.0%
Customer retention 50.0% 29.5% 16.0% 3.5% 1.0%
Take away (Michael Leander)
• Selling to an existing customers is not only easier, but also cheaper than acquiring a new customer
• Delivering excellent customer experiences can initiate recommendation if you deserve it AND if you ask for it
• Utilizing your marketing investments with the best possible mix between acquisition and retention is crucial
• Read a book or talk to an expert about customer lifetime value and customer lifecycle marketing automation
(c) Michael Leander Nielsen, 2009 24
Part 5 How do CMO’s measure ROI (or Return on Marketing Investment)?
(c) Michael Leander Nielsen, 2009 25
How important to your company are these measures of ROI for media campaigns?
Very Important
Important NeutralLess important
Un-important
Response/ conversion rates
38.5% 42.5% 11.0% 2.0% 2.0%
Cost per response 26.0% 34.5% 26.0% 5.5% 2.0%
Sales/revenue data 39.0% 35.0% 17.0% 2.0% 2.5%
Cost per sale data 27.5% 32.0% 25.0% 8.0% 1.5%
Customer/ consumer brand-awareness surveys
27.5% 29.0% 20.5% 12.5% 4.5%
(c) Michael Leander Nielsen, 2009 26
Take away: Defining your marketing-sales funnel is crucial
Branding/Awareness Email
signup ProfiledSignup Trial
signup Trialbuy Purchase
CPO= £$€ ?
Banner
Video
Blogs
• Measure conversions
• Monitor successes
CPI
= £$€ ?
Affiliates
“Far too many marketers are busy deciding the color of the Ferrari – when they should be
busy checking the motor”
Michael Leander
(c) Michael Leander Nielsen, 2009 28
Part 6 Focus on brand building at the expense of direct marketing?Is there a need for more education of marketing team members?
(c) Michael Leander Nielsen, 2009 29
"My company’s marketing strategy is focused on brand-building at the expense of other initiatives with more demonstrable ROI. "
(c) Michael Leander Nielsen, 2009 30
"Due to the apparent economic decline, my company’s marketing strategy will focus more on direct marketing in 2009 than it did in 2008"
(c) Michael Leander Nielsen, 2009 31
Our marketing staff need education in the field of direct marketing and interactive marketing in order to be able to effectively deliver tangible results in these areas?
(c) Michael Leander Nielsen, 2009 32
What do you want to achieve?
(c) Michael Leander Nielsen, 2009 34
Attract 2000newsletter
subscribers
Get 5000 peopleto talk aboutmy product
1500 profiles in my ”customer
fan club”
Get in touch withtop 25 prospects
Get 100.000 people to talk
about my brand
1. Are you extrovert – customer driven?2. Are your marketing results visible internally?3. Have you defined a set of critical few marketing objectives?4. Are you positive that you are creating a good to great customer experience in every single touchpoint? 5. Are you listening to your customers?6. Do you have a great agency relationship with a set of well defined objectives? 7. Are you making sure that your staff are continually educated to meet new challenges?(c) Michael Leander Nielsen, 2009 35
Web-seminars about marketing
Check upcoming events
at www.markedu.com
(c) Michael Leander Nielsen, 2009 36
“If you can find a path with no obstacles, it probably doesn't lead anywhere.
”
Frank A. Clark(c) Michael Leander Nielsen, 2009 37
Thank you for your interest
Go to http://meemoo2.com for more insights about marketing
and branding
(c) Michael Leander Nielsen, 2009 38